Top industrial states plan to import 10.5 mn tonnes of coal to beat crisis

Three of India’s most industrialised states plan to import 10.5 million tonnes of coal in coming months as officials scramble to arrest widespread power cuts, a move that could push global coal prices to new highs.

The scale of the purchases and the decision to go back on a plan to cut coal imports underscore the severity of the India’s fuel crisis. Utilities’ coal inventories are at the lowest pre-summer levels in at least nine years and electricity demand is seen rising at the fastest pace in at least 38 years.

Maharashtra plans to import 8 million tonnes for “blending purposes,” while Gujarat will place orders for 1 million tonnes next week,